Another month, another deluge of ecommerce advancements.
This last month has been exciting because Google, eBay, and Instagram have introduced new features that will fundamentally change the way we shop and sell.
With the launch of new payment methods and shopping avenues, both users and merchants will be able to enjoy streamlined online shopping experiences and other platforms to promote products.
Without further ado, let’s dig in.
Google Pay meets eBay
The lowdown
From this month, eBay users will have the option to pay for their purchases using Google Pay.
This is in part of the ecommerce behemoth’s efforts to expand its “Managed Payments” system to offer more flexibility and increased customer choice.
As more and more shoppers use their mobile devices to shop online, the company wants to streamline the checkout experience. They want to eliminate the need to exit the app or website to pay.
Users can expect a speedier shopping experience and more options on paying for purchases with this Google Pay integration.
What this means for your business
More payment options for customers = more revenue for your business.
If your target market covers a younger demographic, this is beneficial to you, given that a large segment of them are heavily reliant on their digital wallets to pay for purchases.
eBay’s Managed Payments system can speed up the payment process for your customers. It could also help potential customers convert if they usually find it too long or complicated.
Now that there will be a more efficient checkout system, you can expect a decrease in cart abandonment rates and increased revenue for you when you sell on eBay.
Shoppable ads on Google Images
The lowdown
Google is following Pinterest’s footsteps by incorporating shoppable ads in the image search results.
When you punch in a keyword on the Google Image search bar, not only will it yield photos of the specific item you’re looking for, but it will also provide you with shoppable ads. This should effectively streamline the shopping process.
No longer will users have to click on each picture and spend time finding out where to buy a particular item — Google will direct them to the source, but only if you pay for an ad spot.
You will also be allowed to tag several products within a single ad. When shoppers click on the image, they will immediately see the corresponding price of the items.
According to Google, the introduction of this ad type is comes directly from consumer behavior.
Over the holidays, they discovered that shoppers typically search for images first to help them make an informed buying decision.
“A recent study shows that Google is the first place US shoppers go to discover or find a new brand or product,” – Surojit Chatterjee, Google Shopping’s Vice President of Product Management, explained.
“But shoppers aren’t just doing their searches on Google.com. We’ve seen that 50 percent of online shoppers said images of the product inspired them to purchase, and increasingly, they’re turning to Google Images.”
What this means for your business
The new ad formats on Google Images is another avenue for you to reach a broader audience.
On top of social media and content marketing, this is a new opportunity for you to sell your products to potential customers.
As of writing, the feature is only exclusive to users who search for broad topics, such as winter coats or office desk.
It’s only a matter of time until it becomes available to everyone else. So this means one thing: you need to pay extra attention to the alt text of your product images so Google can index them properly.
Instagram allows users to shop directly on the app
The lowdown
In a move that’s been a long time coming, Instagram has cemented itself as an official marketplace.
The company is currently testing a new checkout feature that allows users to shop for items without leaving the app.
The majority of users already use Instagram to discover new products. So, Instagram is leveraging the current behavior of users to simplify the shopping experience.
Shoppers will no longer need to go through the typical process of adding items to cart, signing up for an account, and keying in credit card details to make a purchase. They recognize that this slow flow frustrates users, hence the introduction of in-app checkout.
Source: Instagram
This feature is currently available to a specific group of brands and will roll out to other businesses soon.
Users will tap on a shoppable image, which will give them the option to add the item to their cart. If the product offers customization, the user will be able to easily choose the color, size, etc. before hitting checkout.
Users will be asked to input their contact and delivery information and preferred payment method. The app will save their data for the next time they shop. Once the order has been placed, the user will receive notifications as to its location and delivery date.
What this means for your business
This feature is a game changer for ecommerce. What was once an avenue only reserved for promoting your products and connecting with your consumers, you will soon get the opportunity to close sales within the app.
With Instagram, you’re hitting three birds with one stone. You’ll be able to showcase your offerings, engage with your target audience, and increase your sales.
Take this time to craft a plan to leverage the feature so you can boost your revenue once it becomes available to every retailer.
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